By Tyler Durden
Duke Energy Corporation warned Thursday that coal and natural gas supplies would be tight this winter, resulting in higher power prices for customers. Duke operates a diverse mix of power plants – including coal, hydro, natural gas, nuclear, solar, and wind – and battery storage facilities across several regions and states, including the Carolinas, Florida, and Midwest.
Duke Energy CFO Steve Young said coal and natural gas prices are the highest since 2014, and these two essential commodities are in short supply.
“It’s been a while,” since we’ve seen commodity prices like this.
“The winter of 2014, we had a very cold polar vortex winter, and we saw spiking of gas prices,” Young said, who was quoted by Bloomberg on Thursday.